This statement may need a bit of an update, or an clause that assumes your only recovery option is via your log backups. If you are using 2012 HA or have replicated storage to your disaster system then your data loss may be lower, possibly seconds of loss.
Depends on the kind of disaster. Neither option you mention offer much protection against the 'oops, did I just drop that table on production?'. Depending on where the servers are situated, they may or may not offer protection against a complete loss of a building, or a data center or a city (floods, power outages, seismic events, tornado, hurricane, etc)
I would say, especially if you have some form of HA, your log backup frequency should be determined by maximum amount of data loss tolerable, as if you're resorting to backups in that situation then every other HA option implemented has already failed.
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: Discussions on DB performance with occasional diversions into recoverability
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